GLOBAL & REGIONAL DAILY (Tuesday 7, January 2020)

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GLOBAL & REGIONAL DAILY (Tuesday 7, January 2020)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

January 7, 2020

Global Markets

The geopolitical situation in the Middle East remains on investors’ radars but the performance of financial markets over the last few hours suggests that investors are now optimistic that their worst fears after the killing of Iranian top commander Soleimani in Iraq, will likely not materialize. Brent crude dropped to levels c. $68.60 per barrel earlier today after moving above $70 yesterday for the first time since mid-September 2019.

Greece

According to press, among the main goals of the government’s financial staff for the period ahead are the reduction of the primary surplus targets (which the German Parliament, however, is reportedly unlikely to approve), the upgrade of Greece’s sovereign credit rating and the use of SMP/ANFA income to boost investments. Meanwhile, a number of difficult issues in the context of the 5th EPPS review are pending.

CESEE

Serbia: In attempt to streamline its functions with those of the majority of the EU central banks, the National Bank of Serbia (NBS) decided to start publishing an overview of the global financial market developments and to report FX market interventions on a monthly basis.

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